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Question 1 of 4
1. Question
Annuity contracts owned by corporations generally receive the same income tax treatment received by natural owners.
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Question 2 of 4
2. Question
Harry paid $50,000 for a nonqualified deferred annuity. At the time he took a $15,000 loan from the contract, the accumulated value had grown to $60,000. How much, if any, of the loan is considered taxable income, assuming he had never before taken a distribution from the annuity?
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Question 3 of 4
3. Question
Sally paid $100,000 for her nonqualified immediate annuity, and she has an expected return under it of $150,000. What is her exclusion ratio?
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Question 4 of 4
4. Question
If Alan’s exclusion ratio is 60 percent and he receives $1,000 per month under the contract, how much will he be required to include as ordinary income each year?
